Crawford avalanche. (Grayling, Mich.) 1879-19??, 1887-12-08
PRECIOUS METALS.
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The Director Of the Mint, in his annual
report of the operations of the mints and
assay Offices for the fiscal year 1887, states
that the value of the gold and silver re-
ceived at the mints and assay Offices during
the year was greater than in any previous
year since 1881. The value of the gold
deposited was $88, ,223,072. In addition
there we're redeposits of the value OF $15,-
193,706. The value Of the silver deposited
and purchased was SAT, ,756,9l8. In addi-
ton there were redeposits Of silver
amounting to 1852, 113.
OF the gold deposited, $32,973,027 was
of domestic production, $50, 2,571 1928 of
foreign gold bullion, $9,396,512 Of foreign
gold coin, $516, 9S4 of United States gold
coin, and $2,265, 219 of old material. The
coinage of the fiscal year was as follows:
Gold, 3,724, ,720 pieces; value $22, 1896, 279.
Silver, A, ,231 1888 pieces; value $34, ,366,-
483. Minor coins, 80, ,166, 500 pieces; value
$943, $50. In addition to the coinage exe-
cuted during the year, gold and silver bars
were manufactur ed as follows: Gold, $685.
188,953; silver. $6,4S1, gil. The silver
bullion purchased during the year for the
silver-dollar coinage was 29,433,342 stand
ard ounces of the cost of $25, ,98S,620. The
average cost was $0.98. 1912 per ounce.
The average London prices for the year at
the average rate of exchange was S0.9S. 14S.
The number of silver dollars made was
33, ,266, 831. Ten million nine hundred and
one thousand nine hundred and twenty
eight silver dollars we're distributed from
the mints during the year, and 10000, 900
transferred to the treasury.
The seignorage OF the silver dollars
coined during the year was 81, 923, sos, and
on the subsidiary silver $31,704. The
number of trade dollars redeemed by the
Treasury of the United States under pro-
vision Of the act Of March 8, 1887, author
izing their redemption, was 1859, ,036. The
number imported from the passage Of the
act to Sept. 4, 1887, was 830,50l. The
trade dollars redeemed have all been trans
ferred to the mints or the assay Office at
New York and Melted into bars ready for
coinage. The loss by abrasion was 40, 215.-
| 70 standard ounces, equivalent to 45,96l
trade dollars. IL the trade dollars re-
deemed are coined into subsidiary silver
the profit, exclusive of operative wastage,
will be $631 ,5T4. II coined into standard
silver dollars, $63. 0O4.
The mint at Philadelphia has been taxed
| to its utmost capacity TO execute the large
minor coinage demanded of it in addition
| to the mandatory coinage of silver dollars.
| Notwithstanding the large number OF pieces
buuCks buC uCAuuhO AOA OOAhD 40 otAAl
far beyond tho capacity of the mint to
promptly fill the orders.
The expenditures for the service of the
mints and assay Offices during the yeal
were 81, ,189, 500. The expenses OF the acid
refineries were $165, 1897, against an earn
ing of $143, 1853. The total earnings from
all sources amounted TO $8,842, ,819, and
the total expenses and losses of all kinds te
81, ,437, ,432.
The value of the gold and silver bars is
sued from the United States Assay Office
at New York and the mint at Philldelphis
for use in the industrial marts during the
year was S8,S05,7l0 gold and $4,471, ,64t
/ silver.
| The Director estimates the stock of coir
| In the United States to have been on the
6rst day OF July, 1887: Gold, $3.50, ,006,-
O65; silver, $3l2, ,537, ,916. In addition
there was bullion in the mints as follows
Gold, 85,512, ,270; silver; SIC, ,455, $40.
| The Director estimates the stock of gold
and silver coin in the United States on Nov.
1, 1887, to have been: Gold, 1914, ,a27,
873; silver dollars, SAT-, 110,157; sub
sidiary silver, S75, 75S, 1876.